Sphere Entertainment Co. (NYSE:SPHR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $106.3333.

Several brokerages recently weighed in on SPHR. Wolfe Research reissued an “outperform” rating and issued a $105.00 target price on shares of Sphere Entertainment in a research note on Monday, December 15th. Benchmark raised shares of Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Bank of America raised their target price on shares of Sphere Entertainment from $48.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. BTIG Research boosted their price target on Sphere Entertainment from $110.00 to $127.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, National Bank Financial set a $136.00 price objective on Sphere Entertainment in a report on Thursday, January 22nd.

Hedge Funds Weigh In On Sphere Entertainment

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in Sphere Entertainment by 5.5% in the 1st quarter. Royal Bank of Canada now owns 150,614 shares of the company’s stock valued at $4,928,000 after buying an additional 7,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sphere Entertainment by 5.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,270 shares of the company’s stock worth $532,000 after acquiring an additional 831 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after acquiring an additional 357,794 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Sphere Entertainment by 67.0% in the second quarter. Envestnet Asset Management Inc. now owns 69,387 shares of the company’s stock worth $2,900,000 after acquiring an additional 27,838 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Sphere Entertainment in the second quarter valued at approximately $238,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $105.65 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day moving average price is $103.29 and its two-hundred day moving average price is $82.05. The stock has a market cap of $3.75 billion, a PE ratio of -234.77 and a beta of 1.61. Sphere Entertainment has a one year low of $23.89 and a one year high of $121.93.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $1.35. The company had revenue of $394.28 million during the quarter, compared to analysts’ expectations of $377.60 million. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.49) earnings per share. On average, analysts forecast that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.